Project Feasibility in Healthcare Research Paper

Abstract

In conditions of the transition to innovation and optimization in healthcare, various projects designed to improve specific aspects of work involve utilizing different criteria for determining success. One of these factors is feasibility, which implies the possibility of implementing the tasks set in the context of the existing resource base.

In this regard, the economic component of project activities plays an essential role, and the analysis of financial opportunities and risks should accompany any project. The aim of this study is to conduct a literature review and identify the value of feasibility in the implementation of sustainable and socially significant projects in healthcare, with an emphasis on economics and complementing the research framework with technological, construction, practical, and environmental contexts. The considered criterion of feasibility performs a significant function and is included in sustainable methodological approaches designed to ensure problem-free project activities. Despite the suggested limitations in the form of the given contexts, feasibility can be part of many other interventions in the healthcare sector, and current trends in optimization of various aspects in this area prove this.

Introduction

Creating an enabling environment conducive to targeting efficient, sustainable, and socially responsible healthcare projects is an important aspect of project management and control over resource bases. One of the valuable criteria for achieving the goals set successfully is project feasibility as a factor that reflects current readiness, including economic sustainability. Feasibility, in turn, is a variable that is formed from individual indicators depending on the specific type or purpose of the project. This literature review aims to highlight the existing findings from academic sources on the importance of feasibility in various healthcare projects. In particular, implications on economic, construction, technological, environmental, and practical solutions will be considered, and relevant conclusions from credible resources will be obtained.

Project Feasibility in Economically Important Healthcare Projects

From an economic perspective, the sustainability of healthcare projects largely depends on how feasible a particular proposal or change course is in terms of financial capacity. For instance, Cavicchi (2017) analyzes this topic and argues that resource allocation is a significant factor that directly affects feasibility and stimulates the adoption of specific optimization decisions. The author notes that healthcare leaders are responsible parties controlling the financial aspect of any transformation and innovation, and economic sustainability determines the success of interventions (Cavicchi, 2017). According to Sadeghi et al. (2020), financial status that determines the strength of investments, the stability of support, and other similar criteria allows maintaining sustainable interaction among all stakeholders, in particular, private-public partnerships. As the researcher remarks, the development of healthcare services depends on how stable the flow of resources is to improve specific fields and areas of work (Sadeghi et al., 2020). As a result, the economic aspect that determines feasibility is the driver of successful healthcare collaboration.

Any intervention to improve healthcare algorithms should be based on the criterion of feasibility as a factor that describes specific risks and opportunities. When reasoning on this topic from an economic standpoint, Battistoni et al. (2016) analyze the ratios of costs and benefits as indicators that influence decision-making. In other words, if potential losses exceed the potential profit, project feasibility is in doubt due to the impossibility of ensuring financial security. The authors give an example of interventions in oncology and draw attention to the ineffectiveness of utilizing traditional methods of radiation therapy to target complex tumors, which explains the irrelevance of the senseless costs of knowingly unproductive treatment (Battistoni et al., 2016). In this regard, Marshall et al. (2016) argue that decision-making is one of the extremely valuable strategic approaches to explain the success and feasibility of healthcare projects. All financial interventions should be analyzed in advance to avoid losses and, thereby, not to limit the range of available resources. Thus, from an economic perspective, feasibility is a factor that requires planning and appropriate objective assessment.

Project Feasibility in Healthcare: Construction Projects

The economic aspect of feasibility in healthcare projects accompanies all areas of work, without exception, since, as mentioned earlier, resource allocation is one of the most important criteria for successful interventions. In the construction field, the financial dimension plays a crucial role because, as Al-Saadi and Abdou (2016) note, economic cost analysis is part of any infrastructure innovation program. Schemes and projects to create and sustain productive partnerships to build healthcare facilities are based on monetary accountability and involve ongoing financial evaluations (Al-Saadi and Abdou, 2016). In this regard, Hematyar et al. (2019) associate private-public partnerships in construction in healthcare with feasibility and assess the feasibility parameter. The researchers argue that one of the main criteria to take into account is the financial benefit to the parties involved (Hematyar et al., 2019). Thus, feasibility and economics are inextricably linked and create a common context that determines the success of interventions, including in the construction sector.

While taking into account the feasibility factor as one of the critical indicators of successful construction projects, individual authors investigate the measures that need to be taken at the management level. In particular, Doulabi and Asnaashari (2016) consider the decisions that project managers should make to ensure smooth and financially sustainable healthcare construction oversight. These decisions relate to the functions of the parties involved, financial methods, technological solutions, and other parameters that form the overall planning principle (Doulabi and Asnaashari, 2016). In addition, Lam and Siwingwa (2017) highlight cost control as one of the critical management modes of construction projects in healthcare. Limited funding can be a constraint that prevents stakeholders from spending money on any need to achieve the best outcomes. As a result, as the researchers state, project feasibility depends on financial capabilities directly (Lam and Siwingwa, 2017). Therefore, economics plays a significant role in ensuring the sustainability of construction projects in healthcare.

Project Feasibility in Healthcare Projects from a Technological Perspective

Any innovation in healthcare is the result of preliminary analytical work, including the assessment of both the practical application of a particular technology and its financial feasibility. When discussing the relevance of different innovative solutions, Morilla et al. (2017, p. 6) argue that “many pilot programs have not been implemented because of the lack of a economic feasibility plan”. This means that even if there is a potential benefit from a particular solution, the lack of funds, unreasonable resource allocation, or other financial gaps are constraints and hinder the implementation of innovation. Therefore, from a technological perspective, project feasibility within economic capacities is a crucial concept.

Since the optimization of the healthcare sector through innovation is a current trend, identifying the feasibility parameter of different projects is a mandatory part of many studies. In their research evaluating the feasibility of introducing drones to improve healthcare delivery, Knoblauch et al. (2019) conduct a large-scale feasibility assessment of the technology. The authors use a variety of theoretical methodologies, including SWOT analysis, to assess the prospects for drone adoption, and feasibility is seen as one of the strengths (Knoblauch et al., 2019). Since the goal of any innovation is an improvement, the peculiarities of the transition to advanced technologies invariably imply not only functional but also financial optimization. In this regard, Njoroge et al. (2017) remark that the socio-economic status of the parties involved is a critical aspect influencing the sustainability and success of projects. As an example, the authors cite mHealth algorithms and compare the financial capabilities of the target population with existing technological solutions (Njoroge et al., 2017). Thus, the economic aspect is a relevant factor influencing project feasibility in the context of healthcare modernization.

To justify specific interventions and technological innovations, some authors use the feasibility criterion to explain the application of appropriate implementation models. Javed and Liu (2018) assess the quality of healthcare services in Pakistan and note the value of feasible projects as alternatives to larger but costly optimization programs. For instance, the researchers note the importance of a systematic approach to assessing the success of innovation, including cost-effective solutions as indispensable factors for successful improvement (Javed and Liu, 2018). Comparing innovation with sustainability may not always be relevant, including in the healthcare sector. Yannou et al. (2017) mention feasibility as a criterion for the quality of interventions, while technical updates, in their view, are a novelty factor. In other words, optimization may not necessarily be successful and efficient, particularly if project feasibility is not considered. Therefore, a comprehensive analysis of the sustainability of interventions involves assessing the determinants of success with an emphasis on quality.

Project Feasibility in Healthcare: Practical Perspective

While experimental innovative solutions may be part of distinct modes of operation in healthcare, such as interaction with patients, sustainable practical algorithms are more valuable. In this regard, the practical implications of following the feasibility criterion are often discussed in academic literature. De Groot et al. (2017) review how data are collected and note that feasibility is one of the most important factors in determining the validity and usability of the information collected by responsible parties. As the authors argue, individual research methods and sampling strategies are not always feasible, which should be avoided for the sake of objective work (de Groot et al., 2017). Soliman-Junior, Formoso, and Tzortzopoulos (2020) confirm this idea and remark that feasibility correlates directly with logic because, in a healthcare environment, resilience is more important than flexibility. On this basis, all practical operating algorithms should be adapted to feasible models rather than abstract strategies.

Based on project feasibility as a factor that allows creating conditions for effective work, including financial planning, practical solutions for managers involve avoiding unsustainable strategies. For instance, as Clarke et al. (2017) state, in healthcare, project leadership, which implies analyzing prospects and potential barriers, is accompanied by economic assessments that reflect opportunities and risks. In other words, the sustainability of strategies is determined by a combination of factors but not by one potentially effective criteria. Vaishnavi and Suresh (2020) also note the value of feasibility for project managers in healthcare and highlight the positive prospects for pursuing sustainable leadership models, such as time and cost savings. The evaluation of implementation opportunities for optimization projects is impossible without drawing up clear and comprehensive plans, which include economic, practical, technological, and other implications. Therefore, feasibility should be accepted by project managers as a mandatory criterion to realize.

Project Feasibility in Healthcare: Environmental Framework

Healthcare facilities are increasingly becoming involved in environmental activities, and this topic complemented by economic and practical factors is raised in academic literature. For instance, Babatunde et al. (2019) analyze energy conservation projects and note that the most feasible systems are the most acceptable since the risks or ambiguities are not justified in ecology protection. While arguing on the same topic, Gan et al. (2017, p. 2089) emphasize that “the economic feasibility has already become one of the key factors in the promotion of RE technology”. Addressing environmental issues is often a voluntary initiative, and due to the lack of funds from the budget, project managers need to find and implement the most sustainable programs that are stable both operationally and financially. As Olatomiwa et al. (2018) state, economic analysis is a mandatory aspect that allows compiling working plans for healthcare facilities in accordance with green principles that are promoted today. Therefore, from an environmental perspective, project feasibility complemented by economic planning is a relevant factor.

Conclusion

The conducted literature review proves the relevance of project feasibility in the healthcare sector and confirms the importance of economic analysis as an activity that allows achieving accurate and effective interventions based on sustainable optimization programs. Given the considered implications, in particular, financial, practical, technological, construction, and environmental perspectives, one can conclude that feasibility creates a framework that determines the success of the planned work and the set of measures necessary for its implementation. From a methodological perspective, this factor refers to strong strategic approaches that make any intervention theoretically and practically justified. Feasibility complemented by economic theory is a valuable criterion for maintaining effective control over healthcare projects and eliminating errors and gaps caused by inadequate planning.

Reference List

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